Tuesday, January 11, 2011

Getting The Best Scrap Gold Price

If you are interested in selling your scrap gold but don't know what a fair gold price would be for it, then read further. Determining and calculating the price of scrap gold before you try to sell is imperative. Knowing the value of the pieces you have means that you won't get cheated out of the items you are selling.

Though a great majority of dealers who are in the business of buying gold wholesale are honest and sincere, there are a few fly by night operations that are not. When armed with information regarding how much your gold is worth, you can go into the transaction with confidence and receive a fair price for your goods.

You will need to make sure that you understand the karat of your scrap gold when determining the scrap gold price. The karat of gold jewelry is typically imprinted somewhere on the jewelry piece itself. If you cannot find the karat stamp of your gold jewelry, then you may want to go to a jeweler to get an estimate.

A 24K piece is the highest karat that gold can have and is considered to be pure gold at 99.99%. Of course the higher the karat of your gold scraps, the more cash you will receive in the transaction.

A good rule of thumb is to remember to deal with wholesalers of gold jewelry in order to get the highest gold price you can for your scrap gold. It's also a good idea to investigate the website of the dealer you are interested in using to determine whether the business has a good reputation.

A well established and honest dealer will have been around for awhile and will give you the tools you need to determine the value of your scrap gold. Forget about using a pawn shop, as they will offer you the least amount of money for your scrap.

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